OMAN: The Central Bank of Oman is studying the legal issues and required amendments to the country’s banking law to regulate Islamic banking, according to Hamood Sangour Hashim Al Zadjali, its executive president.
Hamood Sangour added that the central bank and the grand mufti’s office are planning to form a central national committee for determining the standards and legal regulations for Islamic banks.
A legal committee is also in the works to ensure that the banks are Shariah compliant.